Recent Posts

11

Mutual Funds in India / HDFC AMC Manager Salary / Remuneration 2024

« Last post by resh on February 16, 2025, 01:21:31 PM »

Here are the Top fund Managers and their Pay Packets in HDFC Mutual Fund Asset management Company as on 31-03-2024.

All Figures in Rs Lakhs.

NAVNEET MUNOT    Managing Director and Chief Executive Officer    832.71
CHIRAG SETALVAD    Head - Equities    498.3
ROSHI JAIN    Senior Fund Manager - Equities    392.05
GOPAL LAXMINARAYAN AGRAWAL    Senior Fund Manager - Equity    331.34
SHOBHIT MEHROTRA    Head - Fixed Income    301.82
ANIL BAMBOLI    Senior Fund Manager - Fixed Income    290.32
RAHUL JAGDISH BAIJAL    Senior Fund Manager – Equities    256.35
ANUPAM JOSHI    Fund Manager - Fixed Income    231.9
NAVEEN GOGIA    Co - Head - Sales and Distribution, Co - Head - International Business and Head - Public Relations    222.9
SIMAL KANUGA    Head - PMS Sales, New Initiatives and Product Development,   207.95
RAJIV MANIAR    Co - Head - Sales and Distribution    207.8
V SURESH BABU    Head - Operations    198.26
SUPRIYA HEMANT SAPRE    Chief Compliance Officer    193.18
NAOZAD KAIKOBAD SIRWALLA    Chief Financial Officer    190.13
ALOK SHEOPURKAR    Head - Human Resources    170.54
MITUL CHANDRAKANT PATEL    Head - PMS Investments    170.54
SRINIVASAN RAMAMURTHY    Fund Manager - Equity    163.19
ANAND A. LADDHA    Fund Manager - Equities and Senior Equity Analyst    157.42
AMIT SINHA    Fund Manager and Senior Equity Analyst    157.16
ABHISHEK PODDAR    Senior Equity Analyst and Fund Manager    156.73
MUDEITA PATRAO    Head - Digital    155.82
SAMEER SEKSARIA    Head - Corporate Client Services    153.66
RAKESH SETHIA    Senior Equity Analyst    152.66
ARUN AGARWAL    Deputy Vice President - Equities    132.84
AKSHAY DHANAK    Chief Information Technology Officer    129.63
VIKASH AGARWAL    Dealer - Fixed Income and Fund Manager    128.18
PRAVEEN JAIN    Fund Manager, Senior Credit Analyst and Dealer (Backup) - Fixed Income    127.65
ASHOK KANAWALA    Head - Distribution Alliances and Product Strategy    123.29
PRIYA RANJAN    Fund Manager and Senior Equity Analyst    120.93
G SRIKANTH    Zonal Business Head - South    120.25
JASMIN MEHTA    Zonal Business Head - West    119.03
KABIR MANSUKHANI    Assistant Vice President - International Business    118.78
MANAS KUMAR    Head Products and Business Development - International Business    115.04
SYLVIA FURTADO    Company Secretary and Head - Legal    105.33
RAJAT MALHOTRA    Zonal Head - North    104.64
VAIBHAV JOSHI    Deputy Vice President - Operations    76.88
ANISH CHOPRA    National Lead - HDFC Bank Channel    71.78
SUBHASHREE VIJAYARAGHAVAN    Fund Manager - Credit Alternatives    58.03
PANKAJ CHAUDHARY    Principal - Credit Alternatives    39.24
MOONMOON ROY    Vice President - Human Resources    36.08
SHAH ASHISH NARENDRA    Senior Equity Analyst    32.68

12

Equity Investments, Fundamental Research and Sectors Review / Re: Nifty FY 2024 2025 EPS

« Last post by chetan on February 16, 2025, 12:58:36 PM »

How are we doing on FY 2025-2025 Nifty EPS ?

BNP Paribas now expects NIFTY EPS to Close at 1,087 as earnings slow down in the aftermath of fractured mandate for Modi Govt

IIFL Equity Research now expects the NIFTY EPS to be 1,040 down from 1,073

Kotak Institutional Equities now expect it to fall to Rs 1,031 from earlier expectation of Rs 1,089

JM Financial has revised NIFTY EPS for Fy 25 to be just Rs 1,022

Looking at all the expectations from top Research desks, we may end up at 1,050 which means Nifty traded at highly ridiculous valuation without any significant growth.

13

Equity Investments, Fundamental Research and Sectors Review / Re: Nifty FY 2024 2025 EPS

« Last post by resh on May 20, 2024, 06:06:28 PM »

JM Financial estimates it to be Rs 1,130
SBI Funds estimates NIFTY EPS to be Rs 1,097 (significant moderation)
Motilal Oswal in its recent report estimates NIFTY EPS to be Rs 1,132 and Rs 1,315 for FY 2025-2026

14

Equity Investments, Fundamental Research and Sectors Review / Nifty FY 2024 2025 EPS

« Last post by resh on January 16, 2024, 08:23:16 PM »

Here are the Nifty FY 2024 2025 EPS Estimates from various research houses.

CLSA - Rs 1,090
Kotak Institutional Equity - Rs 1,089
Motilal Oswal - Rs 1,100
ICCICI Direct  - Rs 1,100 and Rs 1,250 fro FY 2025-26
IIFL Equity Research - Rs 1,073
Axis Securities - Rs 1,060 and Rs 1,187 for FY 2025-26

15

Indian Economy, Macro, RBI Policies / Historical Fixed Deposit Interest Rates India

« Last post by resh on July 23, 2023, 10:52:44 PM »

Here is Historical Fixed Deposit Interest Rates offered by SBI and other PSU Banks for a period of 12 Months in India.

1975-76   8 1976-77   8 1977-78   6 1978-79   6 1979-80   7 1980-81   7.50-8.50 1981-82   8.00-9.00 1982-83   8.00-9.00 1983-84   8.00-9.00 1984-85   8.00-9.00 1985-86   8.50-9.00 1986-87   8.50-9.00 1987-88   9.00-10.00 1988-89   9.00-10.00 1989-90   9.00-10.00 1990-91   9.00-10.00 1991-92   12 1992-93   11 1993-94   10 1994-95   11 1995-96   12 1996-97   11.00-12.00 1997-98   10.50-11.00 1998-99   9.00-11.00 1999-00   8.50-9.50 2000-01   8.50-9.50 2001-02   7.50-8.50 2002-03   4.25-6.00 2003-04   4.00-5.25 2004-05   5.25-5.50 2005-06   6.00-6.50 2006-07   7.50-9.00 2007-08   8.25-8.75 2008-09   8.00-8.75 2009-10   6.00-7.00 2010-11   6.75-7.25 2011-12   7.5-8.25 2012-13   8.0 2013-14   7.25-8.0 2014-15   8.0-7.4 2015-16   7.4-6.8 2016-17   6.8-6.25 2017-18   6.25-6 2018-19   6-6.4 2019-20   6-4.5 2020-21   4.5-4 2021-22   4.0 2022-23   4.0-7.25

The above rates are for all Individuals and Senior Citizens get 0.5% higher than the rates mentioned above.

16

Mutual Funds in India / Mid + Small Cap - Active Funds

« Last post by resh on April 08, 2023, 05:12:35 PM »

When choosing Mid & Small Cap Funds, it is better to go with Actively Managed Funds than their respective Index ETFs. Reason being lesser correction during broader market correction / down years.

Track Record: At least 6 to 8 years.

AUM: Should be healthy at least Rs 100 Crore for every year of its operation and must have strong SIP Flow (Mostly known by the fact of increasing AUM )

Quartile Ranking For how many quarters the Fund has stayed in Top Quartile of Returns when compared to Peers.

Out-performance Vs Benchmark Look how long it has been above the benchmark on Rolling Returns Parameter. Outperformance must be at least 65% of the time.

Volatility is measure of fluctuation of funds NAV with all else being equal. High Volatility mean High Reward but expect Steep Loss when it is not in your favor. Typically expressed as Beta of the MF. If beta >  1, the fund is more volatile than the benchmark. If beta < 1, it is less volatile

Standard Deviation Use this and broadly get to know the range of future returns.

Now using these Parameters let me find out the good ones for self investment.

17

Sensex and Nifty Company Analysis / Re: Nifty FY 2023-24 EPS

« Last post by resh on February 24, 2023, 08:57:14 PM »

Kotak Institutional Equities Expect Nifty EPS as under
FY 23 Rs 806
FY 24 Rs 923
FY 25 Rs 1,074

Axis Securities Expect Nifty EPS as under
FY 23 Rs 817
FY 24 Rs 930
FY 25 Rs 1,049

ICICI Direct Research Expects Nifty EPS as under
FY 23 Rs 800
FY 24 Rs 950
FY 25 Rs 1,080

If US Markets Trade at a P/E of 20 Yield as on the date of writing this post https://www.wsj.com/market-data/stocks/peyields
Indian NIFTY should also trade at 20 12 months Forward P/E.

18

Mutual Funds in India / Quant Style Investing

« Last post by resh on January 19, 2023, 09:07:33 PM »

Quant MF came into existence in 2018 with takeover of Escorts MF by Quant Capital. It is surprising Quant Group was owned by Reliance which already had Reliance Nippon AMC.

1. MultiCap -  Quant Active Fund - 1,2,3,4,5 - All time frame SIP- Top Performing.
2. FlexiCap - Quant FlexiCap - 1,2,3,4,5 - All time frame SIP- Top Performing.
3. MidCap - Quant MidCap - 1,2,3,4,5 - All time frame SIP- Top Performing.
4. Focused - Quant Focused - 1,2,3,4,5 - All time frame SIP- In Top 5, Not the TOP Performing for 1 & 2 Years.

19

Mutual Funds in India / Re: Conservative Hybrid Debt Vs Fixed Deposit

« Last post by resh on December 25, 2022, 09:17:31 AM »

Investors can take advantage of 4 Indexations where the holding period will be slightly higher than 3 years but the investment is held across 5 financial years.

This can be achieved by investing towards the end of the financial year (between Jan 1st and March 31st of 2023) and has to be redeemed after April-01-2026.

In such a scenario, Indexed Cost of Acquisition will be adjusted for 4 years.

20

Indian Economy, Macro, RBI Policies / Trust Creation for Family Investments

« Last post by resh on December 25, 2022, 08:56:56 AM »

Some Large HNI Investors create a irrevocable discretionary trust where the Husband and Wife are the Trustee and Children  the Beneficiaries.  The purpose of the trust is to grow the wealth by way of investments across instruments and also towards welfare of the beneficiaries. You ensure that (1) in case of any legal claim on Husband / Wife in personal capacity the assets in the name of the trust cannot be attached (2) just in case the erstwhile estate tax (inheritance tax) comes back this would provide some benefit

The Trustee cannot be a beneficiary. The period of the trust is to be specified. Trust is to be registered at the sub registrar office.

The property, shares or investments continue to remain in the name of the trust  - not in the name of beneficiaries.  However, you can set up a regular payout to beneficiaries or one off since the trust is a discretionary one. As and when the trust is closed down, the assets held will be distributed to beneficiaries detailed in the trust agreement.  In fact from taxation point of view

Cash Infusion - Once funds (cash/shares/property) moves into Trust - it is owned by the Trust and the trustee has no relationship excepting being a guardian of the assets.

Trustee cannot utilize any proceeds from the Trust except a reasonable compensation by way of being the Trustee.  The payouts to various beneficiaries is at discretion as the name suggests  - it is a discretionary trust.

Taxation - No clubbing.  Trust is an independent entity with its own PAN and hence handles any taxation on its own. Once the beneficiaries receive any thing from the trust, the resulting taxation would be borne by the individual beneficiaries as applicable.

Disadvantages Trust would be less effective as long term capital gains from share sales cannot be used for purchase of property - the section is unavailable as and when you file tax for the trust.  This is a grey area and once needs to take the legal route.